For sale is a successful 40-year old family medical practice in East Toronto. The practice has actually just under 2,800 active patients and occupies a retail level location together with a busy pharmacy in a building tenanted by a number of other medical and dental offices. Practicing since 1975 the office has actually not been accepting brand-new patients for several years and grosses on a consistent basis around $730,000 per annum, with profit of around 70% after admin and office expenses.
The medical records are all in an electronic format, in addition to the paper files being kept at the premise, making for a smooth possible patient transfer.
Priority will be given to potential buyers looking to remain at the existing location which is currently sub-leased by the doctorr�?s office from the pharmacy, the two sharing a common area. Monthly rent is a symbolic $1,000 which includes HST, with utilities being extra. The premises consist of 4 examination rooms and a receptionist area. There is free surface parking, as well as a designated owner underground parking in the complex. The building has actually a number of specialized medical practices, ranging from cardiologist to psychiatrist. The family practice under consideration is the only such practice in the building.
The doctor running the practice is looking to retire and is willing to provide the necessary transition and training period to the brand-new doctor. The purchaser has actually the option of keeping the existing receptionist/admin staff and the physiciann�?s assistant, or alternatively brings their own team and take over the patient base.
Price: Upon Request
Net Income: $520,000
Year Established: 1975
Asking Price Range: $500K – $1.0M
Gross Revenues: $730,000
Cash Flow: $520,000
Cash Flow Type: EBITDA
Seller Financing: Not Disclosed
Year Established: 1970
Number of Employees: 1 – 3
Relocatable: Not Disclosed
Franchise: Not Disclosed
Current Real Estate: Leased